Announcement is made of the receipt by Salem College of an initial gift of $1,000 from the Masonic Order applicable to the Masonic Loan Fund. This important gift has been bestowed by the educational committees jointly of the Grand Lodge, A.F. and A.M., Grand Chapter R.A.M. and Grand Commandery K.T. of North Carolina.
Students are permitted to borrow from this fund under certain requirements for the completion of their college course at Salem.
These loans are to draw 6% interest and are made at the discretion of the college to deserving students, in particular those who expect to become self-supporting upon the conclusion of their college course.
From page 2 of The Salemite, Salem College’s newspaper, Sept. 12, 1923
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